The company said it will rework these wells and drill additional new off-set wells, utilizing the latest drilling technology.
AER Energy Resources president Stanley Wilson said the company plans to complete the Kansas JV in December and begin secondary recovery operations in the first quarter of 2012.
"Funding for the purchase and drilling expense has been dedicated and rework is expected to produce up to 100bopd and $3m in new annual revenues," Wilson said.
AER Energy Resources is pursuing a policy of drilling low risk oil and gas prospects, in areas of proven production, primarily in the areas of Kansas and Texas.
